Polish Television Group Kino Polska TV Goes Public
IPO expects to raise up to $14 million on the Warsaw Stock Exchange.
MOSCOW -- The Polish television group Kino Polska TV is going public and expects to raise up to $14 million in its initial public offering.
The group, which includes the producer and distributor Kino Polska Television and several cable and satellite television channels, is planning to debut on the Warsaw Stock Exchange March 31. Kino Polska said it expects to raise between 36 million - 40 million PLN ($12.6 million - $14 million) from its IPO.
The group plans to invest the funds raised from the IPO in its infrastructure and in the creation of new thematic channels in the two existing families, Kino Polska, and FilmBox, in a bid to become a leading player in the niche channel market in Central and Eastern Europe.
“We are currently working on extending our premium services with new television channels from the FilmBox group: FilmBox Action HD, FashionBox HD as well as FightBox HD,” Piotr Reisch, president of Kino Polska TV management board, said in a statement, adding that there have been preliminary negotiations with cable and satellite operators interested in new channels.
Part of the cash raised from the IPO will also be spent on extending the company’s film library and licensing new content, as well as on film production.
In 2010, revenues of Kino Polska TV amounted to 47 million PLN ($16.5 million) and the company reported net profits of $3 million.
Currently, Kino Polska produces content for the Czech, Slovakian, Hungarian, Romanian and Spanish markets and is considering expansion into other European markets.